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Wednesday, 21 October 1931

Mr HILL (Echuca) .- I direct attention to the wording of sub-clause 2, which reads: "the free-on-board equivalent of the price per bushel estimated by the organization to be that at which the wheat will be sold ". A pool may receive 5,000,000. 10,000,000, or 20,000,000 bushels, and it will be utterly impossible for it to form an estimate of the price at which that wheat will be sold. It would be better, I think, if the phraseology were "could be sold on that date ". Even that might cause some entanglement. It would he impossible to sell all the wheat on any given day, and the f.o.b. price might rise or fall after a certificate had been issued. Assuming that the price on the day the certificate was issued was 2s. 9d. a bushel, the farmer would be entitled to receive a bounty of 3d. a bushel. Some of the wheat received might be sold six months later for 2s. 5d. a bushel. Would the farmer then be entitled to the full amount of the bounty? Or would the pool be reimbursed?

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